NAVI Protocol Collaborates with OKX to Launch xBTC Lending and Borrowing on Sui
The post NAVI Protocol Collaborates with OKX to Launch xBTC Lending and Borrowing on Sui appeared on BitcoinEthereumNews.com.
This strategic partnership strengthens Sui’s position as a hub for Bitcoin-based DeFi (BTCFi) and expands the utility of xBTC. The purpose of these incentives is to increase the composability of xBTC assets so that users may take advantage of sponsored borrowing opportunities. In cooperation with the Sui Foundation, NAVI Protocol, a prominent DeFi platform on the Sui network, has partnered exclusively for two months with OKX, one of the top centralized exchanges in the sector, to launch xBTC lending and borrowing. This strategic partnership strengthens Sui’s position as a hub for Bitcoin-based DeFi (BTCFi) and expands the utility of xBTC by providing users with innovative financial prospects. In addition to liquidity provision rewards, the partnership gives xBTC liquidity providers on NAVI access to borrow incentives for Sui and USDC. The purpose of these incentives is to increase the composability of xBTC assets so that users may take advantage of sponsored borrowing opportunities to get the most out of their BTC holdings. Deeper liquidity and improved user involvement are fostered by this approach, which increases xBTC use on the Sui network. Through its OKX Earn program, OKX will give out SUI rewards as part of the campaign, while NAVI will give out $500,000 in NAVX rewards to campaign participants. Furthermore, OKX is offering an additional $200,000 in SUI incentives to customers that borrow assets on NAVI and provide xBTC via OKX Earn. These incentives are meant to encourage user involvement and support the expansion of the ecosystem. Campaign Timeline: June 24, 2025: Incentivized borrowing pools for xBTC open on NAVI Protocol. June 27, 2025: Incentivized borrows for USDC liquidity providers kick in. July 7, 2025: Incentivized borrows for SUI liquidity providers kick in. NAVI co-founder Elliscope Fang stated: “This partnership marks a significant milestone in establishing BTCFi as a cornerstone of the Sui network. By collaborating with…
Filed under: News - @ June 24, 2025 2:28 pm